It was asked in our meeting if the pension dump was for Freight or FedEx Corp. The answer was there is only one plan at FedEx. So let's examine that. I say we do have 2 distinct plans.
Exhibit A from the FY17 Annual report: "We made contributions of $2.0 billion in 2017 and $660 million in 2016 and 2015 to our U.S. Pension Plans." Half of the 2017 amount was from a Bond sale.
Exhibit B from the mailer (see picture 1) dated September 2017 assets under $800 million so the money from Exhibit A did not go to us, therefore another pension fund exists for FedEx Corp. (see picture 2 below)
Exhibit C "For 2018, we anticipate making contributions totaling $1.0 billion (approximately $700 million of which are expected to be required) to our U.S. Pension Plans." So they already had plans to input $1 billion into the pension fund. Well it looks like the tax break dump will free up money from some other cost?
Exhibit D see picture 3 for assets and liabilities. We have assets of $26.3 billion. Again nowhere near the $800 million from the statement.